eNaira: CBN furthers integration to Lagos Island, urges merchants to adopt cashless system
The Central Bank of Nigeria (CBN) in a bid to push local acceptance of its digital currency, the eNaira, has commenced sensitisation to incorporate market merchants into the eWallet system for digital economy.
The Apex bank in collaboration with the Lagos Island East Local Council Development Area and Jordan FM on Wednesday gathered market merchants in the LCDA for sensitisation to commence the process of integrating them into the system.
At the Stakeholders Consultative Forum for sensitisation on the eNaira Adoption and Digital Economy for Market Merchants and SMEs, representatives of CBN, from the Information Technology Department, Lagos, led by Chijioke O., said the eNaira digital currency of the Apex Bank is 100 percent secured.
Allaying the fears of the traders, he assured them that the security system of the platform is reliable, stating confidently that they “can’t be scammed on it.”
According to him, the eNaira as CBN’s digital currency was informed by the need to further cashless policy, enlightening the traders that it is reliable and diverse forms of transactions could be effected through it.
The Chairman, Lagos Island East, LCDA, Dr. Muibi Alade Folawiyo, represented by the Vice Chairman, Monsurat Balogun, said it is important for the market stakeholders to follow the trend of cashless policy by embracing the eWallet system for eMarketing.
Declaring the programme open, he said the market stakeholders would be taught and sensitised on the usage, calling on them to optimise the platform.
He called on the Apex Bank to commit resources for development projects as Corporate Social Responsibility (CSR) for the improvement of the well being of the residents of the LCDA.
Speaking, the Managing Director, Jordan FM, Mr Lanre Johnson, expressed optimism on the workability of the integration of the merchants into the system, appreciating the intent of collaboration for sensitisation for acceptance at the local level.
He said the sensitisation programme is another reflection of Local Government (LG) revolution in the Country, mentioning that development must start from LG levels, while submitting that it was significant that representation of LG be incorporated significantly at the Federal Government decision making organs.
Mentioning that the eNaira adoption and Digital Market is to augment LG revolution project by way of eNaira framework, he said by leveraging technology, the platform is meant for good of local economy.
He said it was important for them to adopt the system to cushion the effect of cash withdrawal limit on businesses, mentioning that Northerners are already buying into the idea.
Mentioning that the cashless system is good for seamless running of business, he told the stakeholders that the 5 percent addition promo to every transaction would be profitable to the traders.
He said the technology would be user friendly, safest means for business transactions, bring about empowerment, job creation and development into the LCDA.
He hoped the sensitisation would be extended to other LGAs in the Country.
He appreciated the Lagos Island East LCDA chairman for his responsiveness to the development of the area, describing him as “fantastic, visionary and dynmic.”
Market stakeholders who posed their questions to the organisers, charged them to further engage with the heads of market units to further engagement across markets.
Representatives of the Apex Bank assured commitment to ensure a conclusive engagement for enlightenment to integrate them into the platform.
